A new round of US-Israel strikes on Iran looks all but certain within weeks, with officials and analysts warning it could trigger a global economic shock, while fresh corruption allegations swirl around administration figures.

• Israeli and US officials are preparing military action against Iran, with timing tied to Israel's upcoming election and the US midterms — expect it before Israel votes or right after American elections in early November.
• Officials pushing the plan claim a short bombing campaign would force Iranian surrender, but Iran has signaled it will fight a long war instead, including threats to hit oil fields, internet cables, and data centers.
• If energy infrastructure gets hit on both sides, oil and gas prices are expected to spike sharply, adding to inflation pressure already hurting consumers.
• Attacks on global communications infrastructure could cause cascading financial disruption, with analysts warning a corporate or bank failure could trigger wider market contagion.
• Separately, new corruption and influence allegations are swirling around administration insiders, adding political pressure as war planning accelerates.

Outlook: Watch for strikes to begin shortly after the US midterms, with oil prices and market stability as the key things to track in the aftermath.